The Silk Road Mastermind Just Applied For A Retrial

Last month, it took a jury of peers just four hours to convict Ross Ulbricht on seven counts related to his running of The Silk Road. But Ulbricht isn't giving up that easy — his lawyer has applied for a do-over. » 3/07/15 5:16pm 3/07/15 5:16pm

Your Torrent Client May Be Mining Bitcoin Without Telling You

When you download the popular torrent client uTorrent, the website describes the software as "light, limitless" and "elegant, efficient." That's ironic because multiple users are reporting that the latest uTorrent update quietly installs processor-hogging bitcoin-mining software without your knowledge. » 3/06/15 11:40am 3/06/15 11:40am

No, a Cryptocurrency Can't Fix a Broken Economy

Auroracoin, the digital currency given as a free hand-out to every resident of Iceland, was supposed to be a a salvo for a country rankled by a broken financial system. It was heralded as the beginning of hyper-localized cryptocurrencies; it became the second-largest cryptocurrency before it even launched, valued at » 2/27/15 3:30pm 2/27/15 3:30pm

You Can Bid on Silk Road Boss Ross Ulbricht's $11 Million Bitcoin Stash

If you've always wanted to dabble in cryptocurrency speculation but you were just waiting until you could acquire some Bitcoin that you knew was FOR SURE used in digital drug deals, I have some good-ass news for you: the United States Marshals Service is auctioning off 50,000 Bitcoins seized from Ross Ulbricht's… » 2/18/15 3:35pm 2/18/15 3:35pm

New York City Parking Tickets Are a Great Way to Unload Your Bitcoin

It doesn't matter if the payments are in crumpled, wet $1 bills or casual swipes of a black Amex: New York City makes a shitload of money from fees and fines, and it's looking for new ways to get people to pay up. And that includes cryptocurrency. NYC councilman Mark Levine has proposed a bill allowing Bitcoin as a… » 2/13/15 10:55am 2/13/15 10:55am

What It's Like Inside One of the World's Largest Bitcoin Mines

Bitcoin mines are a lot like mineral mines: dark, dismal, and dangerous. Most people wouldn't know this, though, since these facilities are tucked away in weird, remote corners of the globe. That said, Motherboard recently visited one of the world's largest bitcoin mines in a remote corner of China and made a… » 2/06/15 12:30pm 2/06/15 12:30pm

A Friendly Reminder: Bitcoin Is Not Anonymous 

Hello my cryptocurrency-lovin' friends. I just want to have a casual chat, but not that casual, because I'm worried about some of you. Some of you who may be operating under the assumption that Bitcoin is anonymous. It is not. » 1/31/15 3:00pm 1/31/15 3:00pm

Bill Gates: Digital Currency Can Help the Poor, But Not Bitcoin

Bill Gates has high hopes for digital currency as an important banking tool for the poor. But Bitcoin isn't one of those currencies, he said in a Reddit AMA today. At least not in its current form. » 1/28/15 3:40pm 1/28/15 3:40pm

More than Half of Americans Have No Idea What a Bitcoin Is

Most Americans have no idea what Bitcoin is. A survey from Bitcoin organization Coin Center using Google Consumer Surveys showed 65% of respondents call themselves "not familiar at all" with Bitcoin. » 1/27/15 5:45pm 1/27/15 5:45pm

The First Licensed U.S. Bitcoin Exchange Will Open Today

The bitcoin service provider Coinbase is set to make history later today: it's going to launch the first licensed U.S. exchange for the currency, approved in 24 jurisdictions around the country. » 1/26/15 4:00am 1/26/15 4:00am

Silk Road Reloaded Ditches Tor for a More Anonymous Network

Trying to shut down Silk Road, and any of its many-headed hydra reiterations, seems to be the ultimate lesson in futility. According to Motherboard, a new version of the online black market, called Silk Road Reloaded, launched today on the I2p anonymous network, dealing with several altcoin currencies. » 1/11/15 3:20pm 1/11/15 3:20pm

One of the Biggest Bitcoin Exchanges Just Went Dark After Getting Hacked

Just a few days after reports emerged that the infamous Mt. Gox meltdown was an inside job, one of the biggest, oldest, and most trusted bitcoin exchanges—Bitstamp—just went offline after a security breach. Bitcoin exchanges come and go all the time, but this is different. Bitstamp is supposed to be the reliable one. » 1/05/15 10:31am 1/05/15 10:31am

Report: Mt. Gox Bitcoin Loss Was an Inside Job

It's almost a year since the Bitcoin locker Mt. Gox went offline and took its digital currency with it. Now, a report in Japan's Yomiuri Shimbun newspaper claims that 99 percent of the bitcoins that went missing from Mt. Gox falls were a result of "internal system manipulation." » 1/02/15 5:15am 1/02/15 5:15am

Microsoft Now Accepts Bitcoin For Digital Purchases

Bitcoin adoption continues to grow apace and now Microsoft has joined the party. In the U.S., you can now use the currency to buy apps, games, music and videos from the Windows, Windows Phone, Xbox Games, Xbox Music and Xbox Video stores. » 12/11/14 4:30am 12/11/14 4:30am

Magical Thinking: Bitcoin Gathers at Disney

ORLANDO—(BTC @ $355.27) The hotel is a tomb of hopeful thinking. Built in the 1980s, the single tower of the Wyndham Lake Buena Vista Hotel at Disney World juts up from the Orlando ground as if tectonic forces pushed skyward a sheet of pure, brown stucco. A soundtrack of Mickey Mouse anthems plays around the clock.… » 12/01/14 2:34pm 12/01/14 2:34pm

A Fire Took Out a Huge Bitcoin Mining Operation

It's 2014, and this is what a mining accident looks like. A massive fire reportedly broke out at a Bitcoin mining facility in Thailand last month, devastating all three of its buildings and possibly millions of dollars in hardware. The fire might just be a wakeup call to all the startups trying to mine Bitcoin on the… » 11/07/14 2:17pm 11/07/14 2:17pm

Supposed Bitcoin Creator Is Crowdfunding His Lawsuit... With Bitcoin

Back in March, Newsweek alleged that Dorian Nakamoto was the creator of Bitcoin. Now, though, Nakamoto is raising funds in the cryptocurrency to file a lawsuit against the publication, which refuses to retract its article. » 10/14/14 5:00am 10/14/14 5:00am

Mining Bitcoin With Pencil and Paper

I decided to see how practical it would be to mine Bitcoin with pencil and paper. It turns out that the SHA-256 algorithm used for mining is pretty simple and can in fact be done by hand. Not surprisingly, the process is extremely slow compared to hardware mining and is entirely impractical. But performing the… » 9/29/14 4:16pm 9/29/14 4:16pm